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Oct 22, 2012
10/12
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state media said a car bomb targeted a police station in a christian neighbourhood of the city. the authorities injordan say they've foiled a major terror plot to attack shopping centres, residential areas and western diplomatic missions in the country. state television says eleven people have been arrested — all of them jordanians. a wake—up call for the jordanians. a wake—up call for the jordanian government that troubles him and syria are spilling into the cd. ina him and syria are spilling into the c d. in a news conference, the information minister announced they intercepted a major al-qaeda attack. translation: there are 11 terrorist. they're all ofjordanian nationality. the pictures are available along with their full names. he told reporters of the groups have been in and out of syria since gen, smuggling arms into the country. the weapons include explosives, mortars and rifles. we have is to retain his title —— item which includes target locations. state tv reported plans to assassinate diplomats and to target areas resulting in the deaths of thousands. jordan
state media said a car bomb targeted a police station in a christian neighbourhood of the city. the authorities injordan say they've foiled a major terror plot to attack shopping centres, residential areas and western diplomatic missions in the country. state television says eleven people have been arrested — all of them jordanians. a wake—up call for the jordanians. a wake—up call for the jordanian government that troubles him and syria are spilling into the cd. ina him and syria are...
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Oct 16, 2012
10/12
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he's a citi lifer. he ran two of the most volatile business lines over citi. just the timing of the departure is suspect and a lot of people were very surprised to receive that call last night. >> there are other material aspects as well. on the one hand there's promise to shareholders effectively they would able to pay the dividend which didn't come through at the beginning the year in march and more recently the price that they got for the brokerage. >> right. that's something that came to pass in the last quarter and definitely affected the earnings that essentially with that write down gave citi a 1% return on equity yesterday. but a little bit surprising you wouldn't announce something like this on a conference call. >> for sure. thank you very much for that kayla. let's bring in kate kelley who has more on the big story and big stock. over to you. >> it sound like jim cramer cooped the "journal" which had a steady stream of interesting headlines. jim is telling us that it looks as though pandit was forced out by the board. like kayla that crystallizes th
he's a citi lifer. he ran two of the most volatile business lines over citi. just the timing of the departure is suspect and a lot of people were very surprised to receive that call last night. >> there are other material aspects as well. on the one hand there's promise to shareholders effectively they would able to pay the dividend which didn't come through at the beginning the year in march and more recently the price that they got for the brokerage. >> right. that's something...
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Oct 31, 2012
10/12
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, from the main city of atlantic city. he will certainly look at the loss there of the boardwalk and the flooding that persisted in that town. and then move up and down the coastline where some of the devastation, as governor christie said yesterday, is just indescribable. so the president and governor christie will do that. then we are told the plane from marine one and take a tour either by foot or car of some of the neighborhoods and towns that have been affected by this super storm. we'll be watching those images and bring them to you throughout this hour. >>> if you'd like to see why we're having problems getting air traffic moving again -- except there -- but he comes first -- look at this video. it just fed in a short while ago -- oh, my goodness! look at that! that is laguardia airport today! two days after the storm went through. runways covered with water. if you've ever flown in to or out of laguardia airport, as many of you certainly have, you know that you come right over those bays and that open water there a
, from the main city of atlantic city. he will certainly look at the loss there of the boardwalk and the flooding that persisted in that town. and then move up and down the coastline where some of the devastation, as governor christie said yesterday, is just indescribable. so the president and governor christie will do that. then we are told the plane from marine one and take a tour either by foot or car of some of the neighborhoods and towns that have been affected by this super storm. we'll...
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Oct 16, 2012
10/12
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. >> do you add to your holdings of citi? >> i still think it's interesting if they can monetize this company. >> thank you so much for joining us. appreciate it very much. >>> big news here. while citi shuffles the deck, earnings over the street at goldman sachs bouncing back. strong report this morning huge jump in investment banking revenue. let's take a look at goldman sachs shares. $124.80. year to date up 37%. mary thompson diving in to the latest numbers. >> it was a good report along with strength in investment banking, strong results in fixed income and investments as well as its investments and lendings unit drove the quarter offsetting a 16% decline in the company's revenue. goldman's beat coming as cfo saying the clients remain risk averse and given the uncertain i about the global economy as well as domestic issues. >> traders themselves have to be more comfortable that the market environments are being driven by economics as well as politics and i think maybe you've had a slight shift, but not a big shift the at
. >> do you add to your holdings of citi? >> i still think it's interesting if they can monetize this company. >> thank you so much for joining us. appreciate it very much. >>> big news here. while citi shuffles the deck, earnings over the street at goldman sachs bouncing back. strong report this morning huge jump in investment banking revenue. let's take a look at goldman sachs shares. $124.80. year to date up 37%. mary thompson diving in to the latest numbers....
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Oct 29, 2012
10/12
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i'm maria bartiromo coming to you live from rockefeller city in new york city where the markets are at a standstill today and tomorrow as millions brace fort brunt of hurricane sandy. >> i'm bill griffeth at cnbc global headquarters. this is usually the last hour of trading but this is the beginning of the worst of sandy. the situation getting more dangerous. that's a live picture out of midtown manhattan. a damaged crane atop a building located on west 57th street in midtown manhattan. all of that as a result of the heavy, heavy winds that are been hitting that area of new york city. we will keep you updated on that particular story. in fact, we have whole team coverage from every angle of this story. todd gross is here with us at battery park city, we have mary thompson from the port of baltimore, brian shactman is on long island. kayla tauche in cape may, new jersey, and we will be navigating the carnage for the next two hours. it is expected to pick up in severity in that time frame. let's start with the big picture from todd gross. todd, where is hurricane sandy although this mome
i'm maria bartiromo coming to you live from rockefeller city in new york city where the markets are at a standstill today and tomorrow as millions brace fort brunt of hurricane sandy. >> i'm bill griffeth at cnbc global headquarters. this is usually the last hour of trading but this is the beginning of the worst of sandy. the situation getting more dangerous. that's a live picture out of midtown manhattan. a damaged crane atop a building located on west 57th street in midtown manhattan....
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Oct 30, 2012
10/12
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is jersey's largest city faring? new york city mayor cory booker will join us live for his take. >> it is light outside thankfully and new yorkers are assessing the damage brought by sandy. in lower manhattan floodwaters near 14 feet. the power is still out and transportation total. battery park one of the heaviest hit areas is where we find scott cohn. scott? >> reporter: and to give you some perfespective, melissa, on what that 14 feet means, and that's what it was right here, i would be standing probably about neck deep in water if the surge were where it was last night and indeed we had to race out of here to get away from it as it was coming up around 7:00, 8:00 yesterday evening as the storm was coming ashore and as tides were reaching their height and the surge was reaching its height. so that gives you a sense of that. when you get that kind of water into the city, you get this disaster that we face with flooding of the key underground infrastructure and a lot of other damage. we can show you the dramatic exp
is jersey's largest city faring? new york city mayor cory booker will join us live for his take. >> it is light outside thankfully and new yorkers are assessing the damage brought by sandy. in lower manhattan floodwaters near 14 feet. the power is still out and transportation total. battery park one of the heaviest hit areas is where we find scott cohn. scott? >> reporter: and to give you some perfespective, melissa, on what that 14 feet means, and that's what it was right here, i...
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Oct 29, 2012
10/12
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construction companies throughout new york city, including this project, have been working with the city buildings department since friday in securing to the best degree that anyone could in preparation for this storm. review plans are -- plans are reviewed by licensed engineers. the information that i have is that much of the scaffolding is secure. there are other sites in new york city that have such tower cranes and they are secure. what we're fashioning is an unprecedented storm, in the history of the city of new york. but construction companies across the city have been working in due diligence with all emergency personnel to secure all tower cranes in new york city. >> i guess given the fact that, you know, this is a 90-story building going up and we're only at 65 stories, so you're in the middle of construction, would it have been too expensive to take the crane down knowing that the winds would pick up with such se a severity? you're saying they left it there. didn't anticipate how strong the winds would be -- >> no, public and worker safety are the highest degree. every security
construction companies throughout new york city, including this project, have been working with the city buildings department since friday in securing to the best degree that anyone could in preparation for this storm. review plans are -- plans are reviewed by licensed engineers. the information that i have is that much of the scaffolding is secure. there are other sites in new york city that have such tower cranes and they are secure. what we're fashioning is an unprecedented storm, in the...
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Oct 30, 2012
10/12
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kayla tausch is in atlantic city. what's the latest there. >> reporter: hey, scott, we forged our way north to atlantic city be a an hour ago making our way on garden state parkway only with a police escort. the water had a lot of debris on it, still very much flooded. one of the things we noticed is the quintessential billboards that greet you on the way in. most of those were stripped off. the first thing we wanted to see was the boardwalk. we saw all day yesterday the visuals of the boardwalk detaching and floating out into the city. went to the north end of the island. there was a lesser developed part of the boardwalk that disintegrated and detached, and the boardwalk that we all know that is attached to most of the major businesses here in atlantic city is still intact, and can you see we're standing on it right now. throughout our state, even in just the last hour, road lights came back on, so there is some power that is coming back, now, we made our way up to the boardwalk, tried to walk by a bunch of casinos.
kayla tausch is in atlantic city. what's the latest there. >> reporter: hey, scott, we forged our way north to atlantic city be a an hour ago making our way on garden state parkway only with a police escort. the water had a lot of debris on it, still very much flooded. one of the things we noticed is the quintessential billboards that greet you on the way in. most of those were stripped off. the first thing we wanted to see was the boardwalk. we saw all day yesterday the visuals of the...
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Oct 30, 2012
10/12
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atlantic city gusted at 64 plrn. one of the highest in fact the second highest wind gust we saw 90 miles an hour. 96 up in rhode island. we'll see on the order of 2 to 3 inches of rain across pennsylvania, new york, perhaps into ohio, as well, but up into new england, this is a concern today that we have for thunderstorms. we may see thunderstorms with damaging winds and we also may see the isolated risk of tornadoes, as well. plus the heavy rainfall concern up there. that will be today's risk. and then the wind threat, as well, high wind warnings continue. through about mid-morning to noon depending on the local area. also lake erie had been continuing to get water over the interstate because of that. so the high wind warnings plus the snow we've had now, 18 inches in davis, west virginia and more to keep on falling. >>> let's talk about the new york stock exchange trading floor did survive the night. there was no flooding or damage. but a lot more going on and we want to talk to bertha coombs who joins us with more
atlantic city gusted at 64 plrn. one of the highest in fact the second highest wind gust we saw 90 miles an hour. 96 up in rhode island. we'll see on the order of 2 to 3 inches of rain across pennsylvania, new york, perhaps into ohio, as well, but up into new england, this is a concern today that we have for thunderstorms. we may see thunderstorms with damaging winds and we also may see the isolated risk of tornadoes, as well. plus the heavy rainfall concern up there. that will be today's risk....
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Oct 15, 2012
10/12
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i think citi's move tells you that a lot of guys probably see this. >> 5.5% move on citi. take a look at consumerer discretionary. we saw huge runs. wal-mart hitting a fresh i think this is a record high here. >> wal-mart. i'm not sure what to do with wal-mart at this point. i don't know how much up side is left. >> stop shopping there. >> i have. not really relevant. i'm not exactly their core customer. i don't know what to do with it here. we will probably sell upside calls against them. one thing interesting was the oil. that led the market followed oil. >> i think it was oversold on a technical basis. when you saw the market bounce it bounced probably its third traunch of bouncing. it was the risk on trade and you saw oil bounce with it. >> what did you say on today's action? >> i think it was really interesting in the financials because on friday of last week we saw call buying. we saw a bunch of put buyings in the sector etf. people were really trying to pick their name. they wanted to bet on individual names. we saw individual names like citi do really well. i think
i think citi's move tells you that a lot of guys probably see this. >> 5.5% move on citi. take a look at consumerer discretionary. we saw huge runs. wal-mart hitting a fresh i think this is a record high here. >> wal-mart. i'm not sure what to do with wal-mart at this point. i don't know how much up side is left. >> stop shopping there. >> i have. not really relevant. i'm not exactly their core customer. i don't know what to do with it here. we will probably sell upside...
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Oct 29, 2012
10/12
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he's in battery park city. if you don't know, it is about a five-minute walk from the new york stock exchange. the ocean spilled over the wall there earlier this morning as the tide came in. scott, it seems like the rain's pick up a little bit but how are things now? >> reporter: sue, tyler, take a look at new york harbor. it is getting progressively worse and we are now at low tide so there's a big difference from what we showed you earlier. but the skies are darkening. the rain is coming in. as you heard todd gross talk about, this is where storm surge will be coming in right as high tide happens this evening. and when we were here reporting earlier this morning, this was -- much of this area was under water. let's take a look at what it was like at high tide. again, that's just the morning tide with the full moon on top of it. not a lot of storm surge. at that point sandy was still several hundred miles from new york city. that's going to change when we get to the evening high tide. that is what everybody's
he's in battery park city. if you don't know, it is about a five-minute walk from the new york stock exchange. the ocean spilled over the wall there earlier this morning as the tide came in. scott, it seems like the rain's pick up a little bit but how are things now? >> reporter: sue, tyler, take a look at new york harbor. it is getting progressively worse and we are now at low tide so there's a big difference from what we showed you earlier. but the skies are darkening. the rain is...
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Oct 29, 2012
10/12
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that could be atlantic city. then moving inland overnight, could be near baltimore tomorrow morning with 70 mile per hour winds. then taking a turn through pennsylvania. back up through upstate new york. a huge, prolific wind maker. we think it sticks around for several days once it makes that landfall. obviously when you've got that big of a wind machine, you've got likely power outages. areas in red from maine through western north carolina they're already reporting power outages this morning. then possible power outages across the great lakes all the way back to chicago. this is a huge wind and wave maker. look at virginia beach right now. gusting to 34. winds right now at buoys are at 45 and 22 foot waves. 31 foot waves closer to the center of circulation. look at some of these numbers. very impressive. winds coming out of the northeast at 47. gusts to 38 at bridgeport. 40 at newport. we've had gusts as high as 66, by the way, at boston. right now at 49. the waves are 26 to 12 feet. it's going to be a huge wa
that could be atlantic city. then moving inland overnight, could be near baltimore tomorrow morning with 70 mile per hour winds. then taking a turn through pennsylvania. back up through upstate new york. a huge, prolific wind maker. we think it sticks around for several days once it makes that landfall. obviously when you've got that big of a wind machine, you've got likely power outages. areas in red from maine through western north carolina they're already reporting power outages this...
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Oct 16, 2012
10/12
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want to talk about apple or citi? >> i think citi is a bigger story for today. it's not a major event with citi because like we said you have a ceo running a business that wasn't doing a great job and now news is out that the board let him go yesterday after making what they said not executing properly. one thing they pointed out to was the attempt to increase the dividend so apple is a huge story. it came from 7.05 to 6.25. that will be there for a long time. today the news of the day it citi and net/net a positive for shareholders. >> guy? >> we're to believe the board after they reported earnings decided, wait a second let's make a decision on vikram pandit and they bounce him or force him out and name somebody else? i find that -- this is not a small -- this is not the corner drugstore. i mean this is $108 billion global bank and they did this in less than 20 hours. to me it smells a little fishy. this had to be something -- >> you don't believe the story? >> had to be something in the works. i can't believe you turn something around that quickly. so i mean
want to talk about apple or citi? >> i think citi is a bigger story for today. it's not a major event with citi because like we said you have a ceo running a business that wasn't doing a great job and now news is out that the board let him go yesterday after making what they said not executing properly. one thing they pointed out to was the attempt to increase the dividend so apple is a huge story. it came from 7.05 to 6.25. that will be there for a long time. today the news of the day it...
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Oct 31, 2012
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tough to get around the city right now. >> tough to get around the city. tough to get employees for many of these banks to where they need to be. a number of them -- many of them are working remotely. as you say, everybody is trying to be fully open for business. i have made a handful of calls this morning. it has been a mixed bag in terms of getting people out to offices given there is no mass transit in new york city which is really -- the fact that subways don't work is a stunning thing in this city. it's hard to make new york work without the subways. >> it's not even if people are in their offices. phone service is patchy when it comes to land lines and cell phones and there are some entire buildings, citigroup has a building at 111 wall, 1,800 employees there, they can't get into that building for weeks. >> look at this. this is context in which we're operating. this is cover of "the washington post." this is new york's katrina. obviously the death toll compared to that storm nowhere near approaching it but still 20 some odd people dead in new york a
tough to get around the city right now. >> tough to get around the city. tough to get employees for many of these banks to where they need to be. a number of them -- many of them are working remotely. as you say, everybody is trying to be fully open for business. i have made a handful of calls this morning. it has been a mixed bag in terms of getting people out to offices given there is no mass transit in new york city which is really -- the fact that subways don't work is a stunning...
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Oct 29, 2012
10/12
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and that has city officials concerned. here's new york city mayor mike bloomberg. >> if you are still in zone "a" and can find a way to leave, leave immediately. conditions are deteriorating very rapidly and the window for you getting out safely is closing. >> reporter: it's been interesting to watch. some preparations actually still going on this morning, which means they really weren't thinking that clearly about all of this. because some of the conditions were already supposed to have deter rated by now. but a lot of the sandbagging we've seen has been going on today. that, as the mayor said, the window for all of that, for all of those preparations is closing fast. we expect this is going to be a rough afternoon heading into a rough evening, continuing through tomorrow. scott? >> scott, thanks so much from lower manhattan. the mayor already announcing skoo schools will be closed in new york city yet again tomorrow. at the top of the show we mentioned the new york stock exchange and nasdaq are closed for business today.
and that has city officials concerned. here's new york city mayor mike bloomberg. >> if you are still in zone "a" and can find a way to leave, leave immediately. conditions are deteriorating very rapidly and the window for you getting out safely is closing. >> reporter: it's been interesting to watch. some preparations actually still going on this morning, which means they really weren't thinking that clearly about all of this. because some of the conditions were already...
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Oct 31, 2012
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before making his way up here to atlantic city. of course this meeting is very important, because governor chris christie has said over and over again that fema will play a huge part in the recovery following the wreckage here in new jersey after landfall on monday. you can see the shrapnel from the northernmost end of that iconic boardwalk. many houses also damaged. even some of the residents that have chosen to stay are starting to get power back and starting to assess the damage and start the rebuilding effort. many residents were using the power to get pumps and start pumping water out of their flooded homes. meanwhile, parks of the boardwalk remained. bull dozers and national guard we are coming in to assess that damage and clean that up as well. as far as the damage other places in new jersey. world throughout the mormg of several fires. fires are breaking out all morning, said to be due to natural gas. other towns remain extremely damaged and reeling from the disaster. of course wile have more as soon as that summit takes pl
before making his way up here to atlantic city. of course this meeting is very important, because governor chris christie has said over and over again that fema will play a huge part in the recovery following the wreckage here in new jersey after landfall on monday. you can see the shrapnel from the northernmost end of that iconic boardwalk. many houses also damaged. even some of the residents that have chosen to stay are starting to get power back and starting to assess the damage and start...
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Oct 30, 2012
10/12
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people that work in the casinos and communities of atlantic city. our thoughts with them. >> our thoughts with them as we hope they get a break for the cleanup. our fingers crossed. that will do it for "power lunch" for this day. >> street signs begins right now. >> the storm has pass $but the cleanup and economic hit has just begun. welcome, everyone, the storm has passed but still as many questions as there are answers. for example, what's expected from stocks when trading resumes tomorrow? bob pisani with the latest on the exchanges. when a lot more than 8 million people without power have their electricity restored? and have the waters receded along the shore? could sandy turn out to be a $100 billion storm? women ask an insurance ceo about the damage and whether your premium plus go up. the former ceo of american air lines how the airports will handle the storm and how much this may impact the airlines themselves. but first, let's get the very latest on what we know right now. mandy? >> hi there, brian. let's take a look at what's going on. a 1
people that work in the casinos and communities of atlantic city. our thoughts with them. >> our thoughts with them as we hope they get a break for the cleanup. our fingers crossed. that will do it for "power lunch" for this day. >> street signs begins right now. >> the storm has pass $but the cleanup and economic hit has just begun. welcome, everyone, the storm has passed but still as many questions as there are answers. for example, what's expected from stocks when...
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Oct 30, 2012
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new york city is dealing with a historic outage. con-ed says it will restore power within brooklyn and manhattan in two days. superstorm sandy it dumping snow on the west virginia region. we have a few updates on o openings to report. the federal agencies in washington, d.c. are now open. employees are still being allowed to telecommute. as we've been reporting, the nyse and nasdaq listen open for trading tomorrow. we're just getting word from the imex that it will reopen tomorrow as well provided the city lifts e orders for zone "a." mayor bloomberg not giving a timeline for restoration due to considerable flooding and damage. early inspections reveal that the storm, quote, devastated the new jersey transit's operation and infrastructure. however, washington, d.c.'s mass transit system is restoring. boston's service has already been resumed. maria. >> what an unbelievable impact. thank you. parts of atlantic city, new jersey jersey, are still under water that the hour. kayla is here with that angle. over to you. >> well, maria, all
new york city is dealing with a historic outage. con-ed says it will restore power within brooklyn and manhattan in two days. superstorm sandy it dumping snow on the west virginia region. we have a few updates on o openings to report. the federal agencies in washington, d.c. are now open. employees are still being allowed to telecommute. as we've been reporting, the nyse and nasdaq listen open for trading tomorrow. we're just getting word from the imex that it will reopen tomorrow as well...
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Oct 31, 2012
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president obama will tour damage in atlantic city today. new york's subway system is flooded and will remain shut indefinitely. new jersey transit is also suspended. amtrak will resume limited regional service, but not to manhattan because of flooded tunnels. jfk and newark airports will reopen with limited service. airlines will resume service at other eastern airports. a.i.r. worldwide is putting the estimated insured losses at $7 billion to $15 billion. the u.s. financial markets, as we mentioned, will reopen today. the u.s. stock exchange says they didn't suffer any damage. goldman sachs will open its headquarters in lower manhattan, though it is still running on generator power. b of a will keep their offices closed, and citigroup says its office in lower manhattan sustained extensive flooding. joining us for a firsthand look at the damage from new york is scott cohn. i know it's still dark around you, but what kind of damage are we seeing? >> well, kelly, a lot of what you just outlined s the reason that this is -- that this city is b
president obama will tour damage in atlantic city today. new york's subway system is flooded and will remain shut indefinitely. new jersey transit is also suspended. amtrak will resume limited regional service, but not to manhattan because of flooded tunnels. jfk and newark airports will reopen with limited service. airlines will resume service at other eastern airports. a.i.r. worldwide is putting the estimated insured losses at $7 billion to $15 billion. the u.s. financial markets, as we...
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Oct 29, 2012
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mass transit remains closed in new york city. maryland transit computer service and bus operations remain close. boston mass transit is also closed now as of about 15 minutes ago. >>> wall street is a virtual gho ghost town today as sandy makes its presence known. here's what the nyse ceo had to say about closing the stock exchange earlier this morning and even shutting down electronic trading. >> in terms of it, we have no doubt it can handle the volume. think in most emergency situations until you test it in production you're not going to know. that was going to be the first production task to see. our guess is it would have gone fine. who knows. but you also would not have been likely to see theum and volatility. i think a lot of people simply weren't going to participate today if we had tried to open it. >> is his point valid? we should note that since the interview, the nyse announced plans to close again tomorrow and the hope of reopening on wednesday. let us welcome in the ceo of better markets. he joins us now on the cnbc
mass transit remains closed in new york city. maryland transit computer service and bus operations remain close. boston mass transit is also closed now as of about 15 minutes ago. >>> wall street is a virtual gho ghost town today as sandy makes its presence known. here's what the nyse ceo had to say about closing the stock exchange earlier this morning and even shutting down electronic trading. >> in terms of it, we have no doubt it can handle the volume. think in most emergency...
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Oct 16, 2012
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citi stood behind it. sheila snatched it away. >> rob, you also spoke on the phone just as maria did with vikram pandit today. what's your read? he essentially told you the very same thing he told maria. it was his idea. it was time to go. he accomplished all he was after. do you believe him, and why wha -- what do you think is going on? >> i think this is not all that exciting. in one sense, it's certainly a disorderly departure, but it doesn't feel to me like there's something we're going to find out, some sort of cockroach that's going to come out of the woodpile. feels more like these two guys basically didn't see eye to eye. from michael o'neil's perspective, it's great to turn over a new leaf as you're going back to another discussion with the regulators. so in a sense, they just had a spoiled relationship. don't forget, earlier this year, michael o'neil was in charge of the committee that was supposed to get a deal done for vikram's pay package, right? he was supposed to get that deal done. he was s
citi stood behind it. sheila snatched it away. >> rob, you also spoke on the phone just as maria did with vikram pandit today. what's your read? he essentially told you the very same thing he told maria. it was his idea. it was time to go. he accomplished all he was after. do you believe him, and why wha -- what do you think is going on? >> i think this is not all that exciting. in one sense, it's certainly a disorderly departure, but it doesn't feel to me like there's something...
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Oct 26, 2012
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. >>> and crumbling city? what really happened in the between the bank ceo and chairman that led to pandit's departu departure, the surprising story is still ahead on "closing bell." >>> welcome back, 45 minutes left in today's trading session. the market is higher, dow industrials trying to avoid a third down day. we've got a pretty good move on the upside of 38 points and industrial average, disappoint of earnings putting drag on sent. this morning as it has for much of the week. technology stocks among the gainers, off of earlier lows when the tech index went into correction territory. financial under pressure with the market up broadly speaking. >> 45 minutes left. our next guest told officials fz treasury and fed to stop using libor, the interest rate in order to protect the taxpayers who fund the t.a.r.p. program and using it as a bis sasis to charge interest on loans. >> t.a.r.p. started in 2008, the government still owns a piece of nearly 300 banks. the government has been paying back taxpayers by sell
. >>> and crumbling city? what really happened in the between the bank ceo and chairman that led to pandit's departu departure, the surprising story is still ahead on "closing bell." >>> welcome back, 45 minutes left in today's trading session. the market is higher, dow industrials trying to avoid a third down day. we've got a pretty good move on the upside of 38 points and industrial average, disappoint of earnings putting drag on sent. this morning as it has for...
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Oct 16, 2012
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citi wanted it badly. how bad was that for the overall strategy at citi? >> well, you know, i guess i would start with i cannot imagine, given the challenge that citi corp. was facing at that time, that they would even be allowed to pick up the challenges of wachovia. there's all kinds of suppositions of what was really going on there. we probably don't have time to discuss it. you know, what really happened with wachovia is that we were told that the only problems with wachovia were consumer loans. in fact, we discovered there were big problems with commercial real estate and investment banking. we asked for another 48 to 72 hours so we could address those issues. we were told that we didn't have that time, that it had to be done that night. for some reason that totally escapes me, citi corp. was allowed to bid, and i still believe our bid that night was so there's some very strange things going on at that time and it was actually beneficial that citicorp didn't have those kinds of problems. >> we heard earlier ask mcneil ask about the terms of unlocking
citi wanted it badly. how bad was that for the overall strategy at citi? >> well, you know, i guess i would start with i cannot imagine, given the challenge that citi corp. was facing at that time, that they would even be allowed to pick up the challenges of wachovia. there's all kinds of suppositions of what was really going on there. we probably don't have time to discuss it. you know, what really happened with wachovia is that we were told that the only problems with wachovia were...
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Oct 31, 2012
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how in the world can they run the new york city marathon this sunday with so much of the city still shut down and so many people suffering? will there be a race before there's power? we're about to ask one of the city's top elected leaders where he stands -- next. es with 8 air, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use, it's the ultimate combination of speed, small size, and low-cost printing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-
how in the world can they run the new york city marathon this sunday with so much of the city still shut down and so many people suffering? will there be a race before there's power? we're about to ask one of the city's top elected leaders where he stands -- next. es with 8 air, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. or that printing in color had to cost a fortune. nobody said an all-in-one...
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Oct 17, 2012
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that same dai citi n director michael o'neill chairman. o'neill is a much more hands-on chairman, a trait tra fueled the tension between him and pandit. in july, another misstep. citi overvalued the joint venture it has with morgan stanley. last friday, a person who saw pandit in tokyo said he didn't speak like a man about to lose his job. all of this combing to the fore on monday. that's when citi reported very strong third-quarter earnings. pandit gives no hint on an analyst call he's about to resign. sources say the bank's recent m missteps and differences between pandit and o'neill led to his resignation late monday. one top citi official telling cnbc there had been conversations about pandit and the board about his leaving for multiple weeks. the board having already identified a successor. so after pandit resigns, some of the members of the operating committee were told about the resignation monday evening. others on a call on tuesday morning. that's when long-time pandit lieutenant john havens he signed as well. the public announcem
that same dai citi n director michael o'neill chairman. o'neill is a much more hands-on chairman, a trait tra fueled the tension between him and pandit. in july, another misstep. citi overvalued the joint venture it has with morgan stanley. last friday, a person who saw pandit in tokyo said he didn't speak like a man about to lose his job. all of this combing to the fore on monday. that's when citi reported very strong third-quarter earnings. pandit gives no hint on an analyst call he's about...
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Oct 29, 2012
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you learn how fragile a big city can be, a big strong city like this. it's just different, and that surge, as i said, was really something to behold. >> yeah. >> scott cohn, thank you very much. see you later. >>> coming up next, hurricane sandy hitting long island's massapequa hard tonight turning streets into rivers. more on how the storm is ravaging the northeast and how refineries are being affected as well. we'll be back in two minutes. >>> welcome back. sandy has closed several of the region's major refineries. here's a look at the process to reopen these fuel centers. cnbc's sharon epperson has more. >> reporter: getting a refinery back online after a full shutdown due to a hurricane or major storm can be a lengthy multi-phase operation. the first step, returning evacuated personnel to the refinery, could take a few days depending on conditions and surrounding areas. once on location, the crew evaluates the storm damage, like flooding or downed power lines. if the power is out, the refinery has to wait for local utilities to restore it. once powe
you learn how fragile a big city can be, a big strong city like this. it's just different, and that surge, as i said, was really something to behold. >> yeah. >> scott cohn, thank you very much. see you later. >>> coming up next, hurricane sandy hitting long island's massapequa hard tonight turning streets into rivers. more on how the storm is ravaging the northeast and how refineries are being affected as well. we'll be back in two minutes. >>> welcome back. sandy...
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Oct 29, 2012
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scott cohen in battery park, new york city. let's go to scott with the latest. >> probably will be the last report we do have from this location here because as you may be able to he the waters of new york harbor starting to lap up on to this area here at the battery at the tip of lower manhattan. precursor to the big storm surge that's going to come in with hurricane sandy. we don't want to be anywhere near it. i can tell you now that manhattan, crossroads of the world, sun creasingly now becoming an island because within the next couple of hours, the major bridge misand out of new york city, george washington bridge, other bridges in this area, will be closing down and the issue on that front is the winds. i want to show you video shot, just a few moments ago of one world trade center. people tower. these are the tallest construction cranes in new york city. the port authority of new york and new jersey says that these cranes are okay. i can tell new the short time since we shot that video, and now, the -- one world trade cen
scott cohen in battery park, new york city. let's go to scott with the latest. >> probably will be the last report we do have from this location here because as you may be able to he the waters of new york harbor starting to lap up on to this area here at the battery at the tip of lower manhattan. precursor to the big storm surge that's going to come in with hurricane sandy. we don't want to be anywhere near it. i can tell you now that manhattan, crossroads of the world, sun creasingly...
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Oct 15, 2012
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citi beat on the top and bottom line. since we started with the financial stocks, guys, everybody has done very well. the one exception is wells fargo, very closely tied, of course, to the mortgage market and those net interest margins getting compressed hurting them. overall so far, so far earnings have not been awful. by the way, q4 they're lowering their numbers but not as fast as they were lowering them in q3. >> are on the record time stamped with q3 is the trough? >> i think right now the evidence is it's going to be, and i think q3 earnings could be positive. i know everybody says they're going to be negative. i think you watch at the end of the day, they'll end up not a lot. >> going to be close. thanks, bob. let's get back to headquarters. seema mody has a market flash for us. >> you better watch out, santa may not be delivering enough toys this hol dye season. goldman sachs citing accelerated declines in toy spending. lowering estimates for mattel, another player in that space, jakks also moving in sympathy. >>
citi beat on the top and bottom line. since we started with the financial stocks, guys, everybody has done very well. the one exception is wells fargo, very closely tied, of course, to the mortgage market and those net interest margins getting compressed hurting them. overall so far, so far earnings have not been awful. by the way, q4 they're lowering their numbers but not as fast as they were lowering them in q3. >> are on the record time stamped with q3 is the trough? >> i think...
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Oct 15, 2012
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. >>> citi comfortably beating estimates on the top and bottom line. shares now up $1.60, at $36.35. the stock is up more than 35%, 38% so far this year. kayla tausche listening in on citi's confroeerence call. what did mr. pandit say? >> not all that much but expressing concern over the u.s. fiscal cliff. similarly the cfo responded to claims of a house recovery saying that the economy must lead housing, not housing leading the economy. while the macro environment for banks remains weak, investors are looking at each bank on a case by case basis and they're actually saying that citi's case is improving. excluding items, citi's earnings per share beat analyst estimates by 10 cents matching 11% deposit growth and slower loan growth but big gains in securities and banking. citi one of the only banks so far to show net interest margins improving instead of deteriorating amid that lower interest rate environment. cfo saying the nim should stay at these levels for q4 as well. if earnings stay this good, citi executives said on the call that the bank should
. >>> citi comfortably beating estimates on the top and bottom line. shares now up $1.60, at $36.35. the stock is up more than 35%, 38% so far this year. kayla tausche listening in on citi's confroeerence call. what did mr. pandit say? >> not all that much but expressing concern over the u.s. fiscal cliff. similarly the cfo responded to claims of a house recovery saying that the economy must lead housing, not housing leading the economy. while the macro environment for banks...
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Oct 31, 2012
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no decision on the new york city marathon yet. >> see you the same time tomorrow. "closing bell" is next. >>> hi, everybody, welcome to "the closing bell." i'm maria bartiromo at the new york stock exchange. what a couple of days it's been after being shut down by hurricane sandy, wall street winding down the historic afternoon for the stock market, back in business the market down slightly. the fact that we are open today after this recent disaster is viewed as a very important step for this recovery. >> it's an amazing achievement just to get that opening bell this morning. i'm bill griffith. you can see the dow is down modestly and for the most part it has been for the most part smooth sailing in terms of trading at the big board. we'll talk to a host of top market watchers, get their take how the exchanges are doing on the heels of hurricane sandy. >> of course it's all about the recovery. i'll talk with nasdaq's ceo bob griefeld on how his day is going. stay tuned for that as well as any lot of other interviews coming up. we go to the front lines to get a full
no decision on the new york city marathon yet. >> see you the same time tomorrow. "closing bell" is next. >>> hi, everybody, welcome to "the closing bell." i'm maria bartiromo at the new york stock exchange. what a couple of days it's been after being shut down by hurricane sandy, wall street winding down the historic afternoon for the stock market, back in business the market down slightly. the fact that we are open today after this recent disaster is viewed...
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so the city is back up in terms of getting exchanges going. in terms of the infrastructure of this city, that is still a long climb. bill and maria. >> all right. scott cohn, thank you very much. obviously, sandy has left millions across the northeast without power, crippling businesses and families. courtney reagan has the latest details. >> that's right. the biggest devastation is the 30 lives lost as a result of sandy. sadly, that number could couldn't to grow. mayor bloomberg not giving a time for restoration at th this point due to considerable flooding. early inspections reveal the storms devastated the new jersey's transit. however, washington, d.c.'s mass transit system is restoring bus and rail service at this time. boston service has resumed. damage could top $20 billion in economic losses with insured losses ranging between $5 billion and $10 billion. again, that's just an early estimate. laguardia and new york airports will be closed wednesday, though governor cuomo says jfk may open tomorrow. boston and d.c. airports are open. the
so the city is back up in terms of getting exchanges going. in terms of the infrastructure of this city, that is still a long climb. bill and maria. >> all right. scott cohn, thank you very much. obviously, sandy has left millions across the northeast without power, crippling businesses and families. courtney reagan has the latest details. >> that's right. the biggest devastation is the 30 lives lost as a result of sandy. sadly, that number could couldn't to grow. mayor bloomberg...
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Oct 16, 2012
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citi hasn't quite looked as awful. citi in fact actually one of the better performers over the past 12 months. second only to bank of america. the question is, guys, five years of pain, one year things looked like they were turning around. so why is pandit out now? maria bartiromo spoke with him just a short timing ae ago. we have jim cramer with us. bob, a lot of chatter down there. why now? >> we don't know, but let's fit the facts with the plus aable theory. the facts are he left suddenly after earnings.aable theory. the facts are he left suddenly after earnings. he meets with the board and says not a bad earnings report, let's talk about strategy and things i want to do and my compensation. and mr. o'neal, chairman, pushes back, things blow up. that at least fits the facts we know it. i think we'll find out it's a battle over compensation or strategy. meantime you you see citigroup holding up with its gains. 1% on the day. we're in the midst of a nice rally and it doesn't have anything to do with citigroup. a lot i
citi hasn't quite looked as awful. citi in fact actually one of the better performers over the past 12 months. second only to bank of america. the question is, guys, five years of pain, one year things looked like they were turning around. so why is pandit out now? maria bartiromo spoke with him just a short timing ae ago. we have jim cramer with us. bob, a lot of chatter down there. why now? >> we don't know, but let's fit the facts with the plus aable theory. the facts are he left...
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Oct 1, 2012
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we're live at the value investing con dwres in the heart of new york city where the biggest and best known managers are presenting their top investment ideas. we'll be speaking live with the house and that's moments after he reveals thinks tom picks and the fed chairman is speaking today before the economic club of indiana and you will see the question and answer session live later on in the hour. first, let's turn our focus on the market and stocks higher to start the fourth quarter and after a better than expected manufacturing report where does the rally go from here? we're getting your fourth quarter play back from pete and steve here with me and stephanie link and steve grasso and i will start with you. given what happened last week in the market, did you guys come in today a little skeptical about this move in the market and then we got the ism report and that changed your way of thinking? >> i think you always come in skeptical because you wonder how much is window dressing and how much is the market itself creating and when you look at it, i think there are great opportunitie
we're live at the value investing con dwres in the heart of new york city where the biggest and best known managers are presenting their top investment ideas. we'll be speaking live with the house and that's moments after he reveals thinks tom picks and the fed chairman is speaking today before the economic club of indiana and you will see the question and answer session live later on in the hour. first, let's turn our focus on the market and stocks higher to start the fourth quarter and after...
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Oct 30, 2012
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this is in from we believe the atlantic city, new jersey, region. it was video taken from a helicopter and if you look at that flooding, it shows you just how widespread the flooding is in that part of the garden state which, of course, was one of the hardest hit states and especially, ty, as you were mentioning yesterday and we were talking about, that south central part and the storm surge was unbelievable. in some cases, up to 14 feet. as you can see there are some buildings that are partially submerged at this point. and that looks like parked next a harbor, we are just seeing this now, as you guys are certainly at home. look at the boats piled up. >> that maybe the marina right around where the borgata is on the marina, a couple of the other casinos are there and look at that. is that a dock or is that -- they have about pushed up onto dry land there? >> i think they have been pushed up, they are piled on top. a road, we are hearing. that will give you an idea of not amount extent of the damage but how long it is going to take for that water to
this is in from we believe the atlantic city, new jersey, region. it was video taken from a helicopter and if you look at that flooding, it shows you just how widespread the flooding is in that part of the garden state which, of course, was one of the hardest hit states and especially, ty, as you were mentioning yesterday and we were talking about, that south central part and the storm surge was unbelievable. in some cases, up to 14 feet. as you can see there are some buildings that are...
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to new york city up and running again? >> well, michelle and larry, we're working on it and we have some optimism for friday, but as for tomorrow, the good news we have is service from new haven up to boston and more service from newark down to baltimore and philadelphia and washington. we're going to build on what we did today. stop with newark. we're going to add service from new haven up and working with our partners in the commuter agencies and others, we have some hope for some service in new york come friday. >> mark, principally the flooding, is that still the big deal? >> sure, it's all about the tunnels, larry. it's about getting the water pumped out of the tunnels, and it's a brackish water. there's salt water in it. we have the make sure that we get the water out. we have to make sure the systems are working. but we're pretty optoptimistic. there were people hunched over tables with pens and paper and charts trying to figure out how we can make this happen. once we have a plan for service to and from new york ci
to new york city up and running again? >> well, michelle and larry, we're working on it and we have some optimism for friday, but as for tomorrow, the good news we have is service from new haven up to boston and more service from newark down to baltimore and philadelphia and washington. we're going to build on what we did today. stop with newark. we're going to add service from new haven up and working with our partners in the commuter agencies and others, we have some hope for some...
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the devastation of infrastructure in a city like new york city that has never seen this kind of devastation and the cost of that as well. not only of rebuilding but the lost cost of tourism and other things. opportunity costs not being able to get into the city because of amtrack and the airport being closed down. and all of those things what else would you have spent that $1 billion on? right now, you can think maybe we need to start thinking of the intrastructure of wall street in that area. an t what do you watch at this point? >> how quickly you get the power back on. i know you got the weather center on. >> well, you talk about idle people, that takes away from the nation's gdp. >> all right we are getting word that the death toll has climbed to 44. long island almost one million without power. many in the entertainment and political world have property there. >> long island one of the hardest hit areas. this building behind me used to be a bar and restaurant. it is completely destroyed and i talked to the owners and they lost their home. we took a tour of the area. it is unbelievable
the devastation of infrastructure in a city like new york city that has never seen this kind of devastation and the cost of that as well. not only of rebuilding but the lost cost of tourism and other things. opportunity costs not being able to get into the city because of amtrack and the airport being closed down. and all of those things what else would you have spent that $1 billion on? right now, you can think maybe we need to start thinking of the intrastructure of wall street in that area....
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one northwest of the city and one due east of the city. we will have a head start in canada as we roll out our canadian strategy. >> are there enough people in canada to make a difference? i said how many could you really open there? >> well, we have identified with our partner rio-can development trust, about ten sites which we think we can roll out over the next five to seven years. we have purchased three. we have expansion capacity in each of those three. so we're well along executing the project. >> the dividend increases consistent, 5% most recently. if you get up to, say, 99.9 and then you stay there, how do you raise it each year? you have a 21% increase in the rollovers, right? >> well, our rents continue to be driven -- we were actually -- our rent spreads were 25% year to date. but that's a reflection of our tenant sales, which are way up. the tenants can afford to pay a little bit more. it's a very profitable distribution channel for our tenant partners. our ability to raise dividends, which we have every year since we've been
one northwest of the city and one due east of the city. we will have a head start in canada as we roll out our canadian strategy. >> are there enough people in canada to make a difference? i said how many could you really open there? >> well, we have identified with our partner rio-can development trust, about ten sites which we think we can roll out over the next five to seven years. we have purchased three. we have expansion capacity in each of those three. so we're well along...
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this will hit citi bang k at all. we think not because of what we've done to mitigate the issues substantially. >> jpmorgan wound up owns bear stearns at the behest of the feds in 2008 says it plans to contest the case and is disappointed in the attorney general. judge is eric going after conduct in a firm essentially dead? we will ask him first on cnbc on power lunch at 1:00 p.m. eastern time. carl, back to you. >> that is a key question, scott. reading that complaint, if people haven't already, bringing bam colorful language from days we'd rather forget. we look forward to a lot more today. scott, thanks so much. our capital markets, and we have gary cominski to post-9 once again. >> good thing we have an op ed logo today. you pick up the papers today, "wall street journal," "new york times," you have the headlines about this. the headlines should read the following. after four years of investigations, taxpayer money spent on investigations on top of investigations, this was the best they could get? i mean, carl, my
this will hit citi bang k at all. we think not because of what we've done to mitigate the issues substantially. >> jpmorgan wound up owns bear stearns at the behest of the feds in 2008 says it plans to contest the case and is disappointed in the attorney general. judge is eric going after conduct in a firm essentially dead? we will ask him first on cnbc on power lunch at 1:00 p.m. eastern time. carl, back to you. >> that is a key question, scott. reading that complaint, if people...
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. >> shake-up at citi. the company is still being mum about the specific details around his departure. >> and a surprise rate cut from the bank of thailand is hitting home in yet another emerging economy. >>>er you're watching "worldwide exchange," bringing you business news from around the globe. >> good morning to you. so much to get to in today's program. kelly is a little bleary eyed this morning. >> it's because i watched the debate this morning. >> you just happened to wake up at the exact moment that debate started? >> i thought i'll just watch it for two or three minutes to get an idea of what's g 90 minutes later. >> and your initial thoughts? >> i saw the first one because i was in the u.s. for it. it did come off as dour. this one was livelier. but i don't know whether there was necessarily -- the narrative is that president obama did better than last time around. whether it was as much of a game changer i think is still up for debate. in any case, president obama and mitt romney have one more de
. >> shake-up at citi. the company is still being mum about the specific details around his departure. >> and a surprise rate cut from the bank of thailand is hitting home in yet another emerging economy. >>>er you're watching "worldwide exchange," bringing you business news from around the globe. >> good morning to you. so much to get to in today's program. kelly is a little bleary eyed this morning. >> it's because i watched the debate this morning....
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Oct 18, 2012
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so the city may sell its mineral rights and allow energy companies to drill or frack on city land. experts say fracking or pumping chemicals into the ground filled with oil and natural gas is filled with unknown risk, like the possibility of causing earthquakes and groundwater contamination. >> are you that crazy for money? >> i guarantee you, we will organize under the first amendment everybody in here and bring the wrath of god into this chamber and power back to the people. >> reporter: other cities have already sold their mineral rights. in scio, ohio, the money from drilling will pay for new sidewalks, water treatment, and perhaps give the town a shot in the arm. >> a few years ago, every storefront just about was empty. now there's new business coming in. >> reporter: as cities struggle with tight budgets, a windfall of millions of dollars trapped under public lands is a tempting capital to their cash crunch. >> this is something that could help the area not only now but 10, 20, 50 years from now, just like when the steel mills came here. >> reporter: back live in youngstown,
so the city may sell its mineral rights and allow energy companies to drill or frack on city land. experts say fracking or pumping chemicals into the ground filled with oil and natural gas is filled with unknown risk, like the possibility of causing earthquakes and groundwater contamination. >> are you that crazy for money? >> i guarantee you, we will organize under the first amendment everybody in here and bring the wrath of god into this chamber and power back to the people....
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new york city is very, very quiet even for 6:00 in the morning. they shut down the transit system last night. people have been heeding that. and a lot of evacuations again in the low lying areas, this so-called zone a where we are. but the worry is that the storm surge if it is as forecast, which will be worse than hurricane irene last year, could create some serious problems in terms of getting in to the subway system, in terms of getting into the con ed steam lines and potentially the electrical system. and so even if the wind doesn't blow out power, there could be pry empty differen preemptive power outages. so that's one of the many reasons that they decided to hunger down with all the financial markets. stay home, there's money to be made later and we'll just deal with it. for now just a little bit of a breeze blowing here. that is clearly supposed to chan change. >> where do you go later? >> you have to find a pole, right? you know that that's -- every guy out in a strong breeze, you've seen -- you've got to find a pole around there, right?
new york city is very, very quiet even for 6:00 in the morning. they shut down the transit system last night. people have been heeding that. and a lot of evacuations again in the low lying areas, this so-called zone a where we are. but the worry is that the storm surge if it is as forecast, which will be worse than hurricane irene last year, could create some serious problems in terms of getting in to the subway system, in terms of getting into the con ed steam lines and potentially the...
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Oct 8, 2012
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we know atlantic city is getting skewed by pennsylvania. what happens when they open the fourth casino in the spring of 2013? will they start to lose business sneer these are open-ended questions but there will be a tipping point on supply/demand. >> brian, hopefully this is your last live shot, i see an empty seat at that blackjack table over your right shoulder. >> i'm in. thanks, buddy. >> brian shactman for us. >>> what will move your money even before tomorrow's opening bell rings? >> our trio of wall street's top market watchers gives you a leg up on the other side of the break. mike rowe here at a ford dealer with a little q&a for fiona. tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service
we know atlantic city is getting skewed by pennsylvania. what happens when they open the fourth casino in the spring of 2013? will they start to lose business sneer these are open-ended questions but there will be a tipping point on supply/demand. >> brian, hopefully this is your last live shot, i see an empty seat at that blackjack table over your right shoulder. >> i'm in. thanks, buddy. >> brian shactman for us. >>> what will move your money even before tomorrow's...
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Oct 31, 2012
10/12
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they are running buses in new york city. it will be almost like normal and buses will be free because of all the disruptions with the other transportation systems. >> i'd like to see a satellite shot at night of new jersey. even driving up to the studio this morning, it's dark. no traffic lights, no nothing. there's a couple of things that are open around the area out there, but they must have generators. very little on the shelves. a lot of people, a lot of people. the eye of hurricane sandy hit the jersey shore hard, wiping out boardwalks, businesses as well as homes. millions still without power. president obama is going to survey the damage today with governor christie, and coming in this morning, i heard -- i was listening to the radio and i heard a bunch of sounds from christie. >> he had gone to the shore yesterday. >> giving people hugs. the boardwalk is gone in a lot of places. we showed some amusement rides. kayla has spent two days in cape may. she's moved north to atlantic city where the damage is also extensive.
they are running buses in new york city. it will be almost like normal and buses will be free because of all the disruptions with the other transportation systems. >> i'd like to see a satellite shot at night of new jersey. even driving up to the studio this morning, it's dark. no traffic lights, no nothing. there's a couple of things that are open around the area out there, but they must have generators. very little on the shelves. a lot of people, a lot of people. the eye of hurricane...
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Oct 30, 2012
10/12
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mass transit in new york city is still shut down for obvious reasons. mayor bloomberg not giving a timeline for its restoration, either. washington, d.c.'s bus service. meanwhile, we're seeing quite a few companies pledging their support. gm said they will donate 50 chevy trucks to the red cross for use in recovery efforts. 3 m committed cleaning products, duct tape to the red cross. goldman sachs is setting up charging stations in conjunction with conrad, new york, and providi providing bottled water for residents. walmart is using its network to keep the word out about shelters by keeping website and twitter a counts updated with the latest information. >> thank you very much, courtney reagan. >>> restaurant in sandy's path facing head winds following storm damage. pizza maker papa johns has 600 locations near the storm. responsible for leading the company's global operations. joins us now from louisville, kentucky. great to have you with us. >> thank, melissa, great to be here. >> what sort of disruptions in terms of delivery and distribution are you
mass transit in new york city is still shut down for obvious reasons. mayor bloomberg not giving a timeline for its restoration, either. washington, d.c.'s bus service. meanwhile, we're seeing quite a few companies pledging their support. gm said they will donate 50 chevy trucks to the red cross for use in recovery efforts. 3 m committed cleaning products, duct tape to the red cross. goldman sachs is setting up charging stations in conjunction with conrad, new york, and providi providing...
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Oct 9, 2012
10/12
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. >> how was the columbus day parade in new york city? >> it was spectacular. >> she's an institution in new york city at the fabled columbus day parade. she's the commentator on that every year. >> that's where i was yesterday. it was amazingly fun. >> always look forward to your description of the high school bands out there. i'm bill griffeth. today's selloff comes as investors gear up for what some say could be a tough earnings season. we'll know in about an hour when dow component alcoa reports its results after the bell. coming up, ceoklaus kleinfeld talks with maria about the global economy. we'll also be the first to have yum brand results coming up. another key indicator of where this economy and market may be headed. here's where we stand now. a selloff this morning with the dow down 79 points. just kind of bumping along the bottom of the day, now at 13,506. the nasdaq is down 37 points. all these charts will look similar today. 1.2% down on the nasdaq. the s&p is down nine points at 1446. >> it's not a very happy anniversary to
. >> how was the columbus day parade in new york city? >> it was spectacular. >> she's an institution in new york city at the fabled columbus day parade. she's the commentator on that every year. >> that's where i was yesterday. it was amazingly fun. >> always look forward to your description of the high school bands out there. i'm bill griffeth. today's selloff comes as investors gear up for what some say could be a tough earnings season. we'll know in about an...
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Oct 2, 2012
10/12
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the pensions of just one all-american city. tell you where, coming up. >>> plus what does shelia bare think of the big lawsuit against jp morguen? she is here to let us know. >>> we want to know, who has a better chance of winning this year is it a, mitt romney, or b, the new york jets? vote now on our show page, street signs.cnbc.com. the results, mandy, later in this cablecast. >> indeed. in fact, watching the trading day starting off in rally mode but that buying spree was short circuited about spain's fiscal situation. the dow lost a 52-point gain and on track for the sixth loss in eight session. the numbers more bearish for the s & p 500, down for the ninth time in 12 sessions and losing about 1.6% over that time. the nasdaq near break even, trying to avoid a six of seven losing streak t is down about 2% in that period. brian? >>> the u.s. is addicted to budgetary crystal meth, those words from a man we are now calling "breaking bad" bill gross there he is. his new picture. he outlined america's severe spending addiction i
the pensions of just one all-american city. tell you where, coming up. >>> plus what does shelia bare think of the big lawsuit against jp morguen? she is here to let us know. >>> we want to know, who has a better chance of winning this year is it a, mitt romney, or b, the new york jets? vote now on our show page, street signs.cnbc.com. the results, mandy, later in this cablecast. >> indeed. in fact, watching the trading day starting off in rally mode but that buying...
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Oct 16, 2012
10/12
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citi was one of the first banks in china. the question is, can you turn that into a real stable and profitable franchise? every other quarter we've had noise in their earnings and balance sheet and i think as an analyst i've always wanted to see them make this business run a little bit quieter, if you will. even the write-off of smith barney, that's an ugly thing because it says they didn't make money on that business and in order to sell it, they had to take a loss. >> you know, jim cramer is on the phone, too. jim, i saw what you tweeted about pandit leaving after a terrific quarter which is worrisome. how should we read this? >> i'm listening to mr. whalen and all well and good, you know, pandit finally got it right. this was an absolutely terrific quarter, there was so much that was good here, international was absolutely terrific, you had very good net interest margin. you know, i got to be really blunt about this. i don't know what the heck is going on here. havens i've known since when i did a ton of business with morg
citi was one of the first banks in china. the question is, can you turn that into a real stable and profitable franchise? every other quarter we've had noise in their earnings and balance sheet and i think as an analyst i've always wanted to see them make this business run a little bit quieter, if you will. even the write-off of smith barney, that's an ugly thing because it says they didn't make money on that business and in order to sell it, they had to take a loss. >> you know, jim...
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Oct 16, 2012
10/12
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we're monitoring that phone call from citi group. let's get straight to the markets because it is the rally that will not quit. joe, how are you trading it today? >> adding to positions, we challenge on the down side some tactical support. now the market bounces back today. adding to some existing positions that i already have, adding to the technology space, to corning, i think they're going to report and do well. added to some of the semis. scan disk, i think they're going to do well. and establishing a position once again in starbucks, the ultimate question is do you go for what has been working or do you look at this rebound and say not only am i going to buy what has been working but i'm going to go after some of the performers which today are the leaders in the market. >> i do the same thing, i added to risk as well. i stayed long my wind, that's my casino play. i thought the market was going to break down, it didn't. so i was forced to partake in some of this action. i bought the beta, i bought the high risk. we came from 1474
we're monitoring that phone call from citi group. let's get straight to the markets because it is the rally that will not quit. joe, how are you trading it today? >> adding to positions, we challenge on the down side some tactical support. now the market bounces back today. adding to some existing positions that i already have, adding to the technology space, to corning, i think they're going to report and do well. added to some of the semis. scan disk, i think they're going to do well....
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Oct 18, 2012
10/12
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why is this happening because it's not happening in many other cities including my own, new york city. >> if you have conditions, larry, where people can't get jobs, there's poor education, poor ememployment and few opportunities and that's basically in a generational type of cycle. you're only going to have certain options there. and chicago is one of the leading capitols in the united states that has the types of gangs and organizations. these are not kids running around shooting people, these are organizations that are making millions of dollars and they are fighting for turf. >> what you're describing is this underground economy. i don't think it has a thing to do with the chicago economy. i think these people are inside this underground -- what is it that they want? is it guns they want? buy are they shooting each other? here in new york, rudy giuliani put it up on computers and found out the worse places and put the cops out there. >> you have apathy. you have these type of approaches that are supposed to solve the same old types of problems. number two, you have to have an incr
why is this happening because it's not happening in many other cities including my own, new york city. >> if you have conditions, larry, where people can't get jobs, there's poor education, poor ememployment and few opportunities and that's basically in a generational type of cycle. you're only going to have certain options there. and chicago is one of the leading capitols in the united states that has the types of gangs and organizations. these are not kids running around shooting...
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Oct 1, 2012
10/12
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] get more access with the citi card. [ crowd cheering, mouse clicks ] >>> here's something we don't often get to talk about on cnbc, european strengths. europe defeating the u.s. to retain the ryder cup. martin kaymer giving europe the 14th point it needed to retain possession of the cup. that brings us to this morning's "squawk on the tweet." complete the following sentence -- europe may take our ryder cup, but they'll never take our, blank? tweet us. we have a new twitter handl handle, @squawkstreet is the new twitter handle. they'll never take our? >> place of employment refs. >> wasn't it great to see great refs? >> the saints game, even some controversial calls still, although that's -- there's something more comfortable about it knowing it comes from a full-time ref. >> seriously. someone who's got skin in the game with a 401(k) coming -- the new guys. use the ford motor play, the gm union negotiation. the new guys come in, get shafted. the old guys do well. >> they went to a define contribution from defined benefi
] get more access with the citi card. [ crowd cheering, mouse clicks ] >>> here's something we don't often get to talk about on cnbc, european strengths. europe defeating the u.s. to retain the ryder cup. martin kaymer giving europe the 14th point it needed to retain possession of the cup. that brings us to this morning's "squawk on the tweet." complete the following sentence -- europe may take our ryder cup, but they'll never take our, blank? tweet us. we have a new twitter...